Tencent snaps up assets of Malaysian streaming video service iflix in expansion drive

Tencent Holdings has agreed to acquire a range of assets from Southeast Asian streaming video provider iflix, as the Chinese gaming and social media giant steps up efforts to build a service that could rival Netflix in that region.Shenzhen-based Tencent said on Thursday that it will buy certain content, technology and resources from iflix, which has struggled from a diminished advertising market during the Covid-19 pandemic.“This is in line with our strategy to expand our international…

Read the original article at South China Morning Post